Javelin Capital Markets has connected to nine individual clearing firms for the post-trade clearing of interest rate swaps on the Javelin Swap Execution Facility (SEF).
This means the SEF can now send customer trades for clearing acceptance at LCH or CME to the following clearing firms: Bank of America, Barclays, Citigroup, Credit Suisse, HSBC, JP Morgan, Newedge, Nomura and RBS.
“These clearing firms represent the lion share of the interest rate swap clearing market today. We are very pleased to be able to offer trading solutions to customers clearing through these market leaders,” says James Cawley, CEO of Javelin.
Using certain direct or third party platforms, customer orders placed on Javelin are can now be credit checked in real-time against risk-based limits administered by these clearing firms, in compliance with Commodity Futures Trading Commission regulations.
“At the onset of the new regulatory trading era for OTC derivatives, we are delighted to support our clearing clients that have chosen Javelin based on their assessment of its execution quality, which reflects our ongoing commitment to provide customers with maximum flexibility in fast changing markets" says John Wilson, global head of OTC clearing at Newedge.